A startup event is taking place in Halifax next Monday that isn’t really about startups. It’s a showcase for high-growth innovation companies, most with international customers. With luck, the attendees will include the broader business community, as this is the perfect opportunity to witness the potential of the startup community.
Startup Halifax will host the free showcase Sept. 11 at the Halifax Central Library. (You can register for the event here.) The seven presenting companies are all in their growth stages — they have developed their products, found clients and are growing strongly.
The word startup can be misleading. It literally means a new company. But it has come to mean a young company that’s commercializing technology and has massive growth potential.
“We hope this evening of presentations will dispel the myth that startups are only little businesses . . . playing with technology,” Startup Halifax president John Hamblin said in a statement. “This is an opportunity for members of the broader business community to witness the exciting developments in the local tech and innovation community.”
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Hamblin said the seven companies employ a total of about 300 people. One, STI Technologies, was acquired by a multinational company this year, reportedly for more than $200 million. The other six have raised collectively well over $20 million in venture capital and angel investment in the last year alone. They are:
Fundmetric, Halifax — Fundmetric’s software helps charities and not-for-profits raise money. The company, which recently participated in the Creative Destruction Lab, has attracted clients throughout North America.
Kinduct Technology, Halifax — The 2015 CBC Innovation Company of the Year winner has developed data analytics and AI software to enhance sports performance and health. Kinduct raised US$9 million last year in a funding round led by Intel Capital.
The Money Finder, Halifax — The Money Finder has developed a unique Cash Flow Training approach to financial management. The company, which raised $1.8 million in venture capital this year, has designed software for both training planners and cash flow analysis.
SimplyCast, Dartmouth — This company’s sophisticated marketing systems acquire and manage customers for all types of businesses. SimplyCast recently introduced EmergHub, a platform that enhances communication for teams responding to emergencies.
Spring Loaded Technology, Dartmouth — Spring Loaded manufactures the Levitation knee brace, which uses a “liquid spring” to store energy as you bend the knee, returning it as you straighten up. Spring Loaded recently received $2.46 million from the Atlantic Canada Opportunities’ Agency’s Atlantic Innovation Fund.
STI Technologies, Halifax — Over 15 years, STI built a patient-management system that enhanced the way pharma companies distribute drug samples to patients. The company was acquired by U.S. multinational QuintilesIMS in January.
TruLeaf Sustainable Agriculture, Truro — TruLeaf is a pioneer in building simple, cost-effective and scalable indoor farms. The company, which last year raised $8.5 million in equity capital, is now building a facility in Guelph, Ont., to service the Toronto market.
What’s interesting is that it there were so many other candidates that could have been put on a stage to showcase Nova Scotian growth-stage startups. Halifax-area companies like Blue Light Analytics, Dash Hudson, CarbonCure or Proposify all fit the bill. And this is just Nova Scotia. There is a vast range of so-called startups across Atlantic Canada that are becoming bona fide corporations.